In Which Market Structure Are Price Fluctuations Most Common

question 44

Multiple Choice

In which market structure are price fluctuations most common?

• A)price fluctuations occur with the same frequency in all market structures
• B)monopoly
• C)oligopoly
• D)monopolistic competition
• E)perfect competition

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Definitions:

Actor-Observer Effect

A tendency to attribute one's own actions to external causes while attributing other people's behaviors to their internal characteristics.

Bystander Effect

A psychological social effect where people are less inclined to assist someone in distress if there are others around.

Diffusion Of Responsibility

A psychological phenomenon where individuals in a group are less likely to take action or feel less responsible because the responsibility is shared among all members of the group.

First Aid

The immediate assistance given to a person suffering from minor or serious illness or injury, to preserve life, prevent the condition from worsening, or promote recovery.